October Bull Run Hopes Spark Crypto Optimism Amid Steady Market Gains

Crypto market optimism is on the rise as Tom Lee endorsed Binance founder Changpeng Zhao's (CZ) post hinting at a possible October bull run. On September 30, Lee shared CZ's green-toned selfie with the words 'Soon...' and replied to his question, 'agree. do you own enough crypto?'

Lee mentioned that a bull cycle is gaining momentum due to demand for artificial intelligence (AI) systems during Korea Blockchain Week in Seoul, where he also kept his Bitcoin target at $150,000. This optimism has been accompanied by Bitmine's ethereum buying, with the company close to meeting its '5% Alchemy' accumulation programme goal.

Bitmine has secured about 4.9% of total ethereum supply, putting progress at 98% of its target, and is generating annual profits of several hundred million dollars from staking 5,067,000 ETH, about 84% of its total holdings. The market's steady rise over the past month saw Bitcoin trading around $83,300, Ethereum around $2,698, and BNB around $757.